The independent international review of the economic analysis for the second unit at Slovenia’s Krsko nuclear power plant has confirmed its initial viability. The estimated investment cost, excluding financing, ranges from €9.6 billion to €15.4 billion. Gen Energija, the sole investor, plans to proceed with caution, emphasizing the need for careful risk assessment.
Conducted by Ernst & Young and Assystem, the review found that Gen Energija’s estimated investment and operational costs are acceptable by current standards. No unacceptable assessments were noted, although uncertainties remain around financing, maintenance, and fuel costs, which will depend on future supplier negotiations.
To mitigate these uncertainties, reviewers recommend engaging suppliers early and enhancing the financial structure to maximize the project’s economic benefits. The choice of reactor technology and financing methods will significantly influence costs, with project delays potentially adding substantial expenses.
Gen Energija’s revised analysis did not significantly alter the estimated investment costs, though operational cost estimates were slightly reduced. The projected costs per kilowatt for the reactor design range around €7,625, with additional location-specific costs and unforeseen expenses accounted for.
The electricity cost from the new unit is projected between €41.9/MWh for a 1,650 MW reactor and €45.6/MWh for a 1,000 MW reactor. For profitability, electricity prices during operation need to be between €65 and €70/MWh, based on a long-term projection of €75/MWh.
While two-thirds of scenarios suggest the project will be financially viable, the potential risks highlight the importance of monitoring investment, financing costs, and construction timelines. Overall, Gen Energija remains optimistic about the project’s long-term benefits.
